India’s Adani Group to exit Wilmar joint venture

India’s Adani Group will exit its consumer goods joint venture with Singapore’s Wilmar International, the two companies said on Monday, to focus on its infrastructure projects.

Adani Enterprises, the group’s flagship firm, will sell a 13% stake in Adani Wilmar, with the remaining 31% going to Wilmar.

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Wilmar will acquire Adani’s 31% stake at a price not exceeding 305 rupees per share, the companies said.